Crypto Technicals: ETH/USD fails at 55-EMA, breach below 200H MA (135.66) will see resumption of weakness

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Crypto Technicals: ETH/USD fails at 55-EMA, breach below 200H MA (135.66) will see resumption of weakness

ETH/USD chart – Trading View

Exchange – Coinbase

Technical Analysis: Near-Term Neutral

Overbought/ Oversold Index: Overbought, on verge of rollback into neutral

Support: 135.66 (200H MA); Resistance: 144.36 (55-EMA)

ETH/USD trades largely muted on the day at 139.94, down 0.49% at 04:55 GMT.

Price action has failed to break stiff resistance at 55-EMA (currently at 144.36).

The pair has formed a ‘Spinning Top’ formation on Wednesday’s candle, suggesting indecision.

Major trend in the pair has been bearish and rejection at 55-EMA has raised scope for downside resumption.

Stochs are at overbought on verge of rollover into neutral. RSI is now biased lower.

The pair trades below 5-DMA and finds strong support at 200H MA at 135.66. Breach at 200H MA support will open downside.

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